Analysts Set CI Financial Corp. (TSE:CIX) Price Target at C$27.94

CI Financial Corp. (TSE:CIX) has been given a consensus recommendation of “Hold” by the eight research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$27.94.

Separately, Raymond James lowered shares of CI Financial from a “moderate buy” rating to a “strong sell” rating in a report on Thursday, January 23rd.

Insider Buying and Selling

In related news, Director Brigette Elizabeth Chang sold 1,500 shares of the stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of C$31.00, for a total transaction of C$46,500.00. 15.83% of the stock is owned by company insiders.

CI Financial Stock Up 0.7 %

Shares of TSE CIX opened at C$31.13 on Thursday. The company has a current ratio of 0.32, a quick ratio of 0.17 and a debt-to-equity ratio of 506.88. CI Financial has a 12 month low of C$13.87 and a 12 month high of C$31.48. The firm has a market capitalization of C$4.49 billion, a PE ratio of -64.90, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The firm has a fifty day simple moving average of C$31.22 and a two-hundred day simple moving average of C$27.97.

CI Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 2.57%. CI Financial’s payout ratio is -166.77%.

CI Financial Company Profile

CI Financial Corp. is a publicly owned asset management holding company. Through its subsidiaries, the firm manages separate client focused equity, fixed income, and alternative investments portfolios. It also manages mutual funds, hedge funds, and fund of funds for its clients through its subsidiaries.